2010-07-21
Generally speaking, pensions are exempt from seizure by creditors. Creditors can put a lien on your home, but only if you own your home. You indicate in your question that you are in good standing with your mortgage, which suggests that you do own your home. If you stop paying your mortgage, the mortgagee can start proceedings to sell the property. If you stop paying your other creditors, they will likely first start calling themselves or will turn the matter over to a collection agency. They may then try to get a judgment which can be used to seize your bank account or register a lien against your home (again only if you own it). If you require any additional information or would like to discuss your options, please contact the MNP office located closest to you. Here is the link to our offices in Ontario: http://www.mnpdebt.ca/contact/ontario/default.aspx
2025-10-06
MNP Consumer Debt Index
Ontarians’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
2025-10-06
MNP Consumer Debt Index
The financial vulnerability of Saskatchewan and Manitoba residents is intensifying as their financial cushions shrink and more households edge closer to insolvency.
2025-10-06
MNP Consumer Debt Index
Albertans’ financial vulnerability is intensifying as persistent economic uncertainty, concerns about borrowing costs, and employment anxiety weigh on household confidence.
